Analyst Andres Y. Maldonado from H.C. Wainwright reiterated a Buy rating on Erasca (ERAS – Research Report) and keeping the price target at $6.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors related to Erasca’s strategic advancements in their RAS-targeting franchise. The company has initiated clinical development with two promising candidates, ERAS-0015 and ERAS-4001, which show significant potential in preclinical studies. ERAS-0015 has demonstrated superior binding affinity and tumor growth inhibition compared to existing treatments, along with favorable bioavailability and tolerability profiles. Similarly, ERAS-4001 has shown effective tumor regression and a clean safety profile, with a strong therapeutic index by selectively targeting KRAS mutations.
Additionally, Erasca’s decision to streamline its pipeline by deprioritizing naporafenib allows the company to focus resources on its RAS programs, extending its cash runway into 2028. This strategic realignment positions Erasca to deliver pivotal Phase 1 data in 2026, which could significantly impact the treatment landscape for RAS-mutant solid tumors. These factors collectively underpin the Buy rating, reflecting confidence in Erasca’s potential to achieve clinical and commercial success with its innovative therapies.
Y. Maldonado covers the Healthcare sector, focusing on stocks such as ImmunityBio, Erasca, and Protara Therapeutics. According to TipRanks, Y. Maldonado has an average return of -5.0% and a 30.61% success rate on recommended stocks.
In another report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $4.00 price target.